There existed a fledgling financial market in Russia before 1917 but these were closed after the Russian Revolution.
The securities market in Russia began to revive in the first half of 1991 after the Decree of the Council of Ministers of the Russian Soviet Federative Socialist Republic No.
601 of December 25, 1990 "On approval of the Regulations on joint-stock companies" was adopted.
However, for a long time the low level of financial and economic savvy of the country's population as a whole did not allow the market to develop.
[2] The dynamic development of the legitimate stock market began only after the resumption of growth of the Russian economy since the early 2000s.